Central Valley Advisors LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Central Valley Advisors LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 37.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the company’s stock after selling 1,819 shares during the period. Central Valley Advisors LLC’s holdings in Johnson & Johnson were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curated Wealth Partners LLC boosted its position in Johnson & Johnson by 33.2% in the 1st quarter. Curated Wealth Partners LLC now owns 2,397 shares of the company’s stock valued at $398,000 after buying an additional 598 shares during the last quarter. Dividend Assets Capital LLC boosted its position in Johnson & Johnson by 2.2% in the 1st quarter. Dividend Assets Capital LLC now owns 12,591 shares of the company’s stock valued at $2,088,000 after buying an additional 270 shares during the last quarter. Manitou Investment Management Ltd. boosted its position in Johnson & Johnson by 76.5% in the 1st quarter. Manitou Investment Management Ltd. now owns 969 shares of the company’s stock valued at $161,000 after buying an additional 420 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Johnson & Johnson by 2.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 3,094 shares of the company’s stock valued at $513,000 after buying an additional 76 shares during the last quarter. Finally, Sonora Investment Management Group LLC boosted its position in Johnson & Johnson by 2.5% in the 1st quarter. Sonora Investment Management Group LLC now owns 107,836 shares of the company’s stock valued at $17,884,000 after buying an additional 2,666 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Bank of America reduced their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley increased their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Up 0.8%

Shares of Johnson & Johnson stock opened at $156.45 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $153.52 and its 200-day simple moving average is $153.69. The stock has a market capitalization of $376.43 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.32%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.